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07-11-2013, 05:37 PM #1
- Join Date
- Jun 2013
- Posts
- 26
Asset-Based Lenders?
Hi all, working with a trucking client that owns two tractor trailers free and clear and in need of financing. Would be a smaller deal at this point, but I need someone to send future asset-based deals (equipment and real estate) to as I seem to come across a few potentials each month. Any help would be appreciated. Thanks
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07-12-2013, 11:19 AM #2
If the merchant has real estate with equity or a down payment for the loan a commercial mortgage may be possible. 50% split on comms. My contact is 718-513-6633. -James
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07-12-2013, 11:20 AM #3
James, Gets things done!
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07-12-2013, 12:01 PM #4
- Join Date
- Sep 2012
- Posts
- 199
Dakota Financial (www.dakotafinancial.com) specializes in leaseback working capital. Collateral needs to be 2-1 most of the time. All leaseback companies use liquidation value and not market value of the collateral. They can use real estate too and titled vehicles IIRC.
One problem you'll run into is trying to get signed up. They don't like hit and miss partners with no experience. A lot of the leasing co's work like this. I have an experienced leasing agent working for us and she is signed up independently with various leasing co's. We just give her the apps and let her do the work.
The best thing to do is find a small lease broker and strike a 50/50 deal. Much easier than trying to go direct because unless you can send a leasing company a reasonable volume they usually don't want to talk to you.